Asiacontent.com, NBC Internet Dissolve JV
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[ASIA] NBC Internet, Inc. (Nasdaq:NBCI) and Asiacontent.com (Nasdaq:IASIA) on December 30, 2000, announced the dissolution of their joint venture and related agreements to jointly establish local Asian versions of NBC Internet's (NBCi's) various community portals.
Confirmation of the split follows Asiacontent.com's sale of its joint venture interest in CNET Asia sites to CNET Networks, Inc., in December, 2000. Both CNET Networks and NBC Internet are investors in Asiacontent.com. The joint statement issued by the two companies made no mention of whether or not the dissolution of the JV would affect NBC Internet's relationship with Asiacontent as an investor.
Originally intended to import NBC Internet's consumer portal model to Asia, the venture was ultimately stillborn following the Nasdaq downturn in the spring of 2000. Sources confirmed that Asiacontent.com's joint venture with NBC rival CBS's Marketwatch.com site was not seen as a conflict of interest and did not play a role in the partnership's dissolution. An Asian version of Marketwatch has yet to debut.